Bill Text: MI HB5139 | 2015-2016 | 98th Legislature | Introduced

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Bill Title: Property; conveyances; joint tenancy; clarify ability to create unequal joint interests. Amends sec. 49 of 1846 RS 65 (MCL 565.49).

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-12-10 - Printed Bill Filed 12/10/2015 [HB5139 Detail]

Download: Michigan-2015-HB5139-Introduced.html

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HOUSE BILL No. 5139

December 9, 2015, Introduced by Rep. Pettalia and referred to the Committee on Tax Policy.

 

     A bill to amend 1846 RS 65, entitled

 

"Of alienation by deed, and the proof and recording of conveyances,

and the canceling of mortgages,"

 

by amending section 49 (MCL 565.49).

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 49. (1) Conveyances A conveyance in which the grantor or

 

1 or more of the grantors are named among the grantees therein

 

shall have has the same force and effect as they it would have if

 

the conveyance were made by a grantor or grantors who are not named

 

among the grantees. Conveyances expressing A conveyance that

 

expresses an intent to create a joint tenancy or tenancy by the

 

entireties in the grantor or grantors together with the grantee or

 

grantees shall be is effective to create the type of ownership

 

indicated by the terms of the conveyance.

 

     (2) A conveyance to create a joint tenancy that expresses

 

unequal interests is effective to create the joint tenancy with the

 

unequal interests, and is a valid conveyance.

 

     Enacting section 1. This amendatory act takes effect 90 days

 

after the date it is enacted into law.